The days of writing checks and visiting your local bank are coming to end. Here are the best new apps that make banking, personal finance, and investing easier:
If you are a college student you have probably heard of this app. Venmo is a simple and easy program that lets you send, request, and receive money from your friends and family. Your account can be linked to a debit or credit card as well as your personal bank account. Transferring money is as easy as typing in a name and a dollar amount, and you can find your friends both on Facebook and from your contact list. You can even see your friends’ activity, but if you are concerned about privacy then there is an option to keep your transfers private. Whether you are splitting a restaurant bill with friends, collecting money for a dorm room grocery run, or sending some birthday cash to a far-away relative, Venmo is a must-have app.
Investing has become a much more accessible endeavor thanks to smartphones and dynamic bank accounts, but Robinhood is further changing personal investing by offering zero-fee trades. You heard that right, all trades on the Robinhood app are free. Robinhood makes investing fast, easy, and affordable for every type of investor. With no limits on investing you can play around with a few bucks or create a diverse portfolio for your savings account. It also provides simple stock-tracking information so you can pick the best stocks.
Do you find yourself losing track of your spending and bills? You are not alone. Mint is a simple and user-friendly app that lets you manage your credit card spending, bank accounts, and bills. Mint also offers budgeting tools and free credit score information to help you manage your financial health.The user interface is intuitive and aesthetically pleasing and makes managing your money fun. Download Mint and take control of your finances today.
Saving is hard. Choosing how much to save and when to do it are tough questions, and there are no right answers, but Acorns make saving quick and automatic. The app rounds up your credit and debit card purchases to the nearest whole dollar and puts the remaining money into your personal savings account. For example, if you buy a cup of coffee for $2.50, Acorns will take an additional fifty cents from your card and put it in your account. So, you are spending three dollars on a cup of coffee with the added benefit of saving. Every purchase you make brings you one step further to your savings goals. You can also choose how these savings are invested with options based on your risk preference. If you have trouble saving look no further than Acorns.
Knowing your credit score is important. There are several companies that boast free credit score information, but Credit Karma brings this information to an easy-to-use and accessible mobile application. The app offers free advice for improving your credit and it breaks down the factors that go into your score. This app is a must-have if you are concerned about your financial security and future.
Whether you pick one or all of the apps, they are sure to help you take control of your personal finances and build a better financial future.